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This document is a real estate mortgage agreement between a mortgagor and mortgagee. The mortgagor is borrowing PHP 200,000 from the mortgagee and is using a 1,902 square meter parcel of land as collateral. The mortgagor agrees to pay back the principal plus 2% interest within 2 years. If payment is not made, the mortgagee has the right to sell the property at public auction to recover the loan.

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Pen Panasilan
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2K views

REM - Sample

This document is a real estate mortgage agreement between a mortgagor and mortgagee. The mortgagor is borrowing PHP 200,000 from the mortgagee and is using a 1,902 square meter parcel of land as collateral. The mortgagor agrees to pay back the principal plus 2% interest within 2 years. If payment is not made, the mortgagee has the right to sell the property at public auction to recover the loan.

Uploaded by

Pen Panasilan
Copyright
© © All Rights Reserved
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:


I, _______________ married to ___________, Filipino, of legal age,
and a resident of ________________________, herein referred to as
MORTGAGOR/S;

The spouses ____________________ and _______________________, of


legal ages, Filipinos, married to each other and with residence and post
office address at No. _________________________________, herein referred to
as MORTGAGEE;

WITNESSED, THAT:

WHEREAS, the MORTGAGOR/S is the registered owner of a


parcel of land situated in the ________________________________, embraced
and covered by Transfer Certificate of Title No. _____________________, and
more particularly described as follows to wit:
TRANSFER CERTIFICATE OF
TITLE No. ___________________

A parcel of land (Lot 223-B, Psd-112402-033018, being a portion of


Lot 223, Psd-64862, situated in the _____________________. Bounded on the
NE., along line 5-6 by Lot 224, Psd-64862; on the SE., along line 6-1 by Lot
223-A; along line 1-2 by 223-C, along line 2-3 by Lot 223-D, all of the
subdivision plan; on the NW., along line 4-5 by lot 222; Psd-64862.
Beginning at a point marked 1 on plan being S. 70 deg. 56E., 2, 085.63
m. from MBM No. 8, Cad-102. Thence.
N. 85 deg. 37 W., 23.12 m. to point 2;
S. 79 deg. 57 W., 4.81 m. to point 3;
N. 13 deg. 50W., 35.28 m. to point 4;
N. 89 deg. 22W., 59.82 m. to point 5;
S. 61 deg. 05 E., 17.71 m. to point 6;
S. 55 deg. 05 W., 47.67 m. to point of beginning and
containing an area of ONE THOUSAND NINE HUNDRED TWO (1,902)
SQUARE METERS, more or less/. Points referred to are indicated on the
plan and are marked on the grounds as follows: All points by P.S. Cyl.
Conc. Mons. 15 x 40 cms. Bearings true. Date of original Survey, February
1916- May 1920 and that of the subdivision survey. August 22, 1992,

executed by Geodetic Engineer Mario N. Alaba, and approved on


September 17, 1992. ;

WHEREAS, the MORTGAGOR/S expresses their intent to LEND,


BORROW and MORTGAGE an amount of money and offers their parcel of
land as a collateral thereof and that the MORTGAGEE accepts their
offer;
WHEREAS, for and in consideration of a loan in the sum of TWO
HUNDRED THOUSAND PESOS (Php 200,000.00) Philippine currency,
to me in hand paid by the MORTGAGEE SPOUSES ___________________
and ___________________, do hereby CONVEY, by way of Mortgage, unto
the said SPOUSES ___________________, their heirs and assigns, the
RIGHTS over the above mentioned parcel of land, together with all the
buildings and improvement thereon, if any, and bind themselves with
the terms and conditions thereof in the following manner, to wit:

1. That we, _________________ shall pay or caused to be paid to


said SPOUSES ________________, their heirs or assigns, the said
sum of TWO HUNDRED THOUSAND
PESOS (Php
200,000.00), with in the period of TWO (2) years commencing
from the time of the signing, execution and notarial public of
this Real Estate Mortgage;
2. The said principal amount of TWO HUNDRED THOUSAND
PESOS (Php 200,000.00) shall accrue an interest of TWO
PERCENT (2%) or (Php 4,000.00 per month), payable at the
time said obligation is due or demandable the month after the
execution of this Real Estate Mortgage, whichever the parties
may agree and conform thereto;
3. The MORTGAGOR/S shall surrender by way of deposit, the
Original Copy or Owners Duplicate Copy of the said parcel of
land to the MORTGAGEE and that registration of title shall be
claimed only after the payment and satisfaction in FULL of the
said loan;
4. That failure on the part of the MORTGAGOR/S to pay the
whole principal obligation and the corresponding interests on
the agreed period of time shall mean that the Real Estate
Mortgage shall be enforceable in the manner as provided for
under the law;
5. That, in connection of said failure of payment, the
MORTGAGOR/S hereby agree that the MORTGAGEE or their
heirs and assigns, may enforce their rights herein without
judicial proceedings by causing the above described property to

be sold at public auction in the City of Davao where the said


property is situated, after giving notice of sale for 20 days
posted in at least three public places of the said City, said sale
to take place on a business day between 9:00 A.M. and 4:00
P.M. at the City Hall of said City, under the direction of the
notary public of said City, Justice or Auxillary Justice of the
Peace of the City, or provincial sheriff. In accordance with Act
No. 3135, as amended by Act No. 4118.

IN WITNESS WHEREOF, I have hereto set my hand this ________


day of ____________, 2015 in Davao City Philippines.
\

____________________
MORTGAGOR/S
Competent Proof of Identity:
______________________________
______________________________

________________________
MORTGAGEE
Competent Proof of Identity:
______________________________
______________________________

Signed in the presence of:


___________________________

__________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES
________________________________) S.S.
BEFORE ME, this ____ day of _____________, 2015 in the
_______________________, personally appeared the above named persons
exhibiting their competent proofs of identity as shown above, known to
me to be the same person who executed the foregoing instrument, and he
acknowledged to me that the same is free act and deed.
This instrument consisting of two (2) pages, including the page on
which this acknowledgement is written, has been signed on the left
margin of each and every page thereof by the parties and their witnesses,
and sealed with my notarial seal.
IN WITNESS WHEREOF, I have hereunto set my hand, the day,
year, and place above written.

Doc. No. _____;


Page No._____;
Book No._____;

Series of 2015.

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